Valid First or Second Lien. The Mortgage is a valid, subsisting, enforceable, except only as such enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors' rights generally and by general principles of equity (whether considered in a proceeding or action in equity or at law) and perfected, first lien (with respect to a First Lien Loan) or second lien (with respect to a Second Lien Loan) on the Mortgaged Property, including all buildings and improvements on the Mortgaged Property and all installations and mechanical, electrical, plumbing, heating and air conditioning systems located in or annexed to such buildings, and all additions, alterations and replacements made at any time with respect to the foregoing. The lien of the Mortgage is subject only to:
Appears in 9 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Home Equity Loan Trust 2007-2), Pooling and Servicing Agreement (Morgan Stanley Ixis Real Estate Capital Trust 2006-2), Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc)
